Your books
Answering your accountant's questions
What the questions in To review are for, and why owner payments matter.
When we can't tell what a transaction was, we ask you in To review. Pick the closest answer; add a note if none fits.
Questions about money to or from owners, founders or related companies matter most: for a foreign-owned company these go on Form 5472, and a missing or incomplete Form 5472 carries a $25,000 penalty per form.